Financial Advisors Want to Know: Behavioral Finance and the Psychology of Wealth - Ep. 55 Daniel Crosby, Ph.D.

Welcome to the Financial Advisors Want to Know Podcast, I’m Catherine Tindall a CPA with Dominion where our focus is helping financial advisors navigate income tax planning and compliance for their firms.

Dr. Daniel Crosby, a psychologist and behavioral finance expert educated at Brigham Young and Emory, explores the intersection of psychology and markets. He created the “Irrationality Index” to track market sentiment and recently released The Soul of Wealth, featuring 50 insightful essays on wealth and happiness. In his free time, he enjoys independent films, St. Louis Cardinals baseball, and family time.

Podcast Takeaways:
Purpose Matters: Advisors and their clients need a clear "why" for their financial goals. Named accounts and purpose-driven planning lead to better outcomes.

Behavioral Bias: Financial advisors, like clients, are prone to behavioral biases and should proactively manage their own decision-making.

Women as Investors: Women consistently outperform men in investing due to biological and sociological factors, yet this is widely underestimated.

Consistency Wins: Success in personal goals, like fitness or finance, often comes down to consistent, simple practices—not dramatic changes.

Money as a Means: Wealth is a tool, not the end goal. Aligning financial plans with deeper personal values leads to greater fulfillment.

Connect with Daniel:
https://www.linkedin.com/in/danielcrosby/
https://www.standarddeviationspod.com/
Daniel's book: https://www.amazon.com/dp/1804090441/ref=pe_386300_440135490_TE_simp_item_image


Connect with Catherine:
https://www.linkedin.com/in/ctindallcpa/

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